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8.B. - Page 23 OFFICIAL STATEMENT $10,985,000� CITY OF REDWOOD CITY REDWOOD SHORES COMMUNITY FACILITIES DISTRICT NO.99-1 (SHORES TRANSPORTATION IMPROVEMENT PROJECT) OF THE CITY OF REDWOOD CITY, SPECIAL TAX REFUNDING BONDS, SERIES 2013 INTRODUCTION This introduction is not a summary of this Official Statement and is only a brief description of and guide to, and is qualified by, more complete and detailed information contained in the entire Official Statement and the documents summarized or described in this Official Statement. A full review should be made of the entire Official Statement by those interested in purchasing the Bonds. The sale and delivery of Bonds to potential investors is made only by means of the entire Official Statement. Certain capitalized terms used in this Official Statement and not defined herein have the meaning set forth in Appendix C— "Summary of the Fiscal Agent Agreement—Definitions°and in Appendix B— "Rate and Method.° General The purpose of this Official Statement, which includes the cover page, the inside cover page, the table of contents and the attached appendices (the "Official Statement"), is to provide certain information concerning the issuance of the above-captioned bonds (the "Bonds"). The Bonds are being issued by the City of Redwood City, California (the "City"), for and on behalf of the Redwood Shores Community Facilities District No. 99-1 (Shores Transportation Improvement Project) of the City of Redwood City (the "District"), to (i) refund in full and defease the Redwood Shores Community Facilities District No. 99-1 (Shores Transportation Improvement Project) of the City of Redwood City Special Tax Bonds, Series 2001A (the "Series 2001A Bonds") and the Redwood Shores Community Facilities District No. 99-1 (Shores Transportation Improvement Project) of the City of Redwood City Special Tax Bonds, Series 2003B (the "Series 2003B Bonds," and, collectively with the Series 2001A Bonds, the "Prior Bonds"), (ii) fund a reserve fund for the Bonds, and (iii) pay costs of issuing the Bonds and the refunding of the Prior Bonds. See "PLAN OF REFUNDING." The Prior Bonds were issued to finance certain public transportation system improvements located within and in the vicinity of the District (the "Improvements"). See "THE DISTRICT—History of the District." Authority for Issuance General. The District was formed under the authority of the Mello-Roos Community Facilities Act of 1982, as amended, commencing at Section 53311, et seq., of the California Government Code (the "Act"), which was enacted by the California Legislature to provide an alternative method of financing certain public capital facilities and services, especially in developing areas of the State. The Act authorizes local governmental entities to establish community facilities districts as legally constituted governmental entities within defined boundaries, with the legislative body of the local applicable governmental entity acting on behalf of the district. Subject to approval by at least a two-thirds vote of the votes cast by the �Preliminary,subject to change. -1-